Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

January 14, 2002

Published on January 14, 2002

EXHIBIT 11
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CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(in thousands, except per share data)


For the Nine Months Ended November 30,
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2001 2000
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Basic Diluted Basic Diluted
-------- -------- -------- --------
Income applicable to common shares $109,420 $109,420 $ 78,965 $ 78,965
======== ======== ======== ========
Shares:
Weighted average common shares
outstanding 42,362 42,362 36,615 36,615
Adjustments:
Stock options - 1,208 - 668
-------- -------- -------- --------
Adjusted weighted average common
shares outstanding 42,362 43,570 36,615 37,283
======== ======== ======== ========

Earnings per common share $ 2.58 $ 2.51 $ 2.16 $ 2.12
======== ======== ======== ========



For the Three Months Ended November 30,
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2001 2000
------------------ ------------------
Basic Diluted Basic Diluted
-------- -------- -------- --------
Income applicable to common shares $ 49,643 $ 49,643 $ 34,953 $ 34,953
======== ======== ======== ========
Shares:
Weighted average common shares
outstanding 43,429 43,429 36,788 36,788
Adjustments:
Stock options - 1,310 - 681
-------- -------- -------- --------
Adjusted weighted average common
shares outstanding 43,429 44,739 36,788 37,469
======== ======== ======== ========

Earnings per common share $ 1.14 $ 1.11 $ 0.95 $ 0.93
======== ======== ======== ========